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January 03, 2017

BECU acquires 8 buildings near its Tukwila Financial Center

Tukwila Reporter

Heidi Sanders

BECU acquires 8 buildings near its Tukwila Financial Center

BECU purchased eight additional buildings at the Gateway Corporate Center in Tukwila for $78 million on Dec. 27.

The corporate center, 12866 Interurban Ave. S., has been home to the BECU Tukwila Financial Center, which serves as BECU headquarters and a branch for members, since 1990. Nearly 650 of BECU's 1,700 employees work at the Tukwila Financial Center.

BECU, which now owns 10 of the 11 buildings in the Gateway Corporate Center, acquired the additional buildings, totaling 376,000 square-feet, from Kansas City, Mo.-based RREEF Property Trust, which is part of is part of Deutsche Asset Management.

Gregg Kats, BECU's vice president of administration, said BECU will develop a master use plan to determine how it will use the space and will honor leases for the tenants of the newly acquired buildings.

'In addition to being a sound investment, the purchase gives BECU more flexibility to accommodate growth while creating an employee-friendly, campus-like setting,' Kats said.

Andrew Miller, Matt Wood, Bill Frame and Richard Davidson of Kidder Mathews were the real estate brokers for the transaction.

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